Market Outlook: Smartphone Shipment and ASP Forecast by OEM and Region, Q2 2024
Detailed Forecast by Region, Brand, and 5G/Non-5G Trends through 2028.
Market Highlights
• vivo took the lead in Q3 2024 with a 20% market share. The T3 Lite 5G and Y28s models were its key performance drivers. vivo also expanded its T3 series to prepare for the festive season sales, further supporting its growth.
• Xiaomi moved down to the second spot in Q3 2024 with a YoY growth of just 3%. The Redmi 13C 5G was the brand's top-performing model for the third consecutive quarter.
• Samsung's shipments declined in Q3 2024, but the brand maintained its third position in the market. The Galaxy F15 5G and Galaxy S23 FE 5G were its top-shipped models during the quarter.
• OPPO witnessed the highest growth among the top five brands at 41% YoY. OPPO's A series contributed to 55% of the brand's shipments in Q3 2024.
• realme dropped to the fifth spot with a 19% YoY decline in its Q3 2024 shipments. During the quarter, the brand faced a higher-than-usual inventory level, which led it to focus on clearing existing stock to make room for new devices.
India Smartphone Shipments Market Share (%)
| Brands | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 |
| vivo | 17% | 16% | 17% | 20% | 19% | 20% |
| Xiaomi | 15% | 17% | 18% | 19% | 19% | 17% |
| Samsung | 18% | 17% | 16% | 16% | 16% | 14% |
| OPPO | 11% | 10% | 10% | 11% | 13% | 14% |
| realme | 12% | 14% | 12% | 10% | 12% | 11% |
| Others | 26% | 26% | 27% | 25% | 20% | 24% |
India Smartphone Shipments Market Data (Q1 2023 – Q2 2024)
Market Highlights
• India Smartphone shipments fall 3% YoY in April-June Quarter, the decline was influenced by a heatwave, a seasonal slump, and slower demand from Q1 2024.
• Xiaomi reclaimed the top spot with an 19% shipment share, closely followed by vivo with 18.9%.
• Samsung led the market in terms of value with a 24% share, followed by vivo and Apple.
• 5G smartphones captured their highest-ever share of 77% in the overall shipments.
• The INR 20,000-INR 30,000 (~$240-$360) and >INR 45,000 (>~$540) price bands saw the fastest growth at 25% and 23% YoY, respectively.
India Smartphone Shipments Market Share (%)
| Brands | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 |
| Xiaomi | 16% | 15% | 17% | 18% | 19% | 19% |
| vivo | 17% | 17% | 16% | 17% | 20% | 19% |
| Samsung | 20% | 18% | 17% | 16% | 16% | 16% |
| OPPO | 12% | 11% | 10% | 10% | 11% | 13% |
| realme | 9% | 12% | 14% | 12% | 10% | 12% |
| Others | 25% | 26% | 26% | 27% | 25% | 20% |
India Smartphone Shipments Market Data (Q4 2022 – Q1 2024)
Published Date: May 21, 2024
Market Highlights
• India’s smartphone shipments in Q1 2024 (January-March) grew 8% YoY in terms of volume and 18% in terms of value. Volume growth was primarily driven by healthy inventory levels and the low base of Q1 2023.
• With a 19% share, vivo emerged as the top brand in Q1 2024, followed by Xiaomi which witnessed a 28% YoY growth in Q1 2024.
• 5G smartphone shipments captured their highest-ever share of 71% in volume terms.
• Premium segment (>INR 30,000) reached 20% volume share, its highest ever.
• During Q1 2024, the offline share reached 64%, marking the highest quarterly post-COVID figure.
India Smartphone Shipments Market Share (%)
| Brands | Q4 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 |
|---|---|---|---|---|---|---|
| vivo | 16% | 17% | 17% | 16% | 17% | 19% |
| Xiaomi | 18% | 16% | 15% | 17% | 18% | 19% |
| Samsung | 20% | 20% | 18% | 17% | 16% | 18% |
| OPPO | 11% | 12% | 11% | 10% | 10% | 10% |
| realme | 8% | 9% | 12% | 14% | 12% | 10% |
| Others | 21% | 26% | 27% | 26% | 27% | 24% |
India Smartphone Shipments Market Data (Q3 2022 – Q4 2023)
Published Date: Feb 1, 2024
Market Highlights
• India’s smartphone shipments grew by 25% YoY in Q4 2023 (October-December).
• With an 18% share, Xiaomi regained the top spot for the first time after Q3 2022.
• vivo maintained the second spot in Q4 and led the affordable premium segment (INR 30,000-INR 45,000).
• 5G contribution reached 61% due to various 5G launches in the INR 10,000-INR 15,000 segment. Within 5G shipments, the INR 10,000-INR 15,000 price band contributed the highest at 24%.
• The ultra-premium segment (>INR 45,000) grew by 51%, with Apple leading the segment with a 71% share.
• Among the top five brands, realme was the fastest-growing brand with a 69% YoY increase.
Click here to read about India smartphone market in Q4 2023.
India Smartphone Shipments Market Share (%)
| Brands | Q3 2022 | Q4 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 |
|---|---|---|---|---|---|---|
| Xiaomi | 21% | 18% | 16% | 15% | 17% | 18% |
| vivo | 14% | 18% | 17% | 17% | 16% | 17% |
| Samsung | 19% | 20% | 20% | 18% | 17% | 17% |
| realme | 14% | 8% | 9% | 12% | 14% | 11% |
| OPPO | 10% | 11% | 12% | 11% | 10% | 10% |
| Others | 22% | 25% | 26% | 27% | 26% | 27% |
India Smartphone Shipments Market Data (Q2 2022 – Q3 2023)
Published Date: Nov 10, 2023
Market Highlights
• India’s smartphone shipments remained flat in Q3 2023 (July-September) even as Apple recorded its highest ever quarterly shipments during the period.
• In Q3 2023, the share of 5G smartphone shipments reached 53%. The main growth driver was OEMs pushing multiple launches in the INR 10,000-INR 15,000 (~$120-$180) segment.
• With a 17.2% share, Samsung remained the market leader for the fourth consecutive quarter.
• Experiencing a high-growth phase in India, Apple recorded 34% YoY growth. Q3 2023 also marked the best quarter for Apple’s shipments in the country, which crossed 2.5 million units.
• vivo was the fastest growing brand among the top five, registering 11% YoY growth
• In Q3 2023, OEMs focussed on launching new devices and filling in channels to prepare for the festive season ahead.
Click here to read about India smartphone market in Q3 2023.
India Smartphone Shipments Market Share (%)
| Brands | Q2 2022 | Q3 2022 | Q4 2022 | Q1 2023 | Q2 2023 | Q3 2023 |
|---|---|---|---|---|---|---|
| Samsung | 18% | 19% | 20% | 20% | 18% | 17% |
| Xiaomi | 19% | 21% | 18% | 16% | 15% | 17% |
| vivo | 17% | 14% | 18% | 17% | 17% | 16% |
| realme | 16% | 14% | 8% | 9% | 12% | 14% |
| OPPO | 11% | 10% | 11% | 12% | 11% | 10% |
| Others | 19% | 22% | 25% | 26% | 27% | 26% |
India Smartphone Shipments Market Data (Q1 2022 – Q2 2023)
Published Date: Aug 17, 2023
Market Highlights
• India’s smartphone shipments declined 3% YoY in Q2 2023 (April-July). Though it was the fourth consecutive declining quarter, the magnitude of the decline reduced considerably.
• 5G smartphones’ contribution to total smartphone shipments reached a record of 50%.
• With an 18% share, Samsung led India’s smartphone market for the third consecutive quarter. It was also the top 5G brand.
• vivo maintained its second position. It was the only brand among the top five to experience YoY growth.
• Samsung surpassed Apple to become the top premium segment (>INR 30,000 or ~ $366) brand. Apple continued to lead the ultra-premium segment (>INR 45,000 or ~$549) with a 59% share.
• OnePlus was the fastest growing brand with 68% YoY growth, followed by Apple with 56% YoY growth.
Click here to read about India smartphone market in Q2 2023.
India Smartphone Shipments Market Share (%)
| Brands | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | Q1 2023 | Q2 2023 |
|---|---|---|---|---|---|---|
| Samsung | 20% | 18% | 19% | 20% | 20% | 18% |
| vivo | 15% | 17% | 14% | 18% | 17% | 17% |
| Xiaomi | 23% | 19% | 21% | 18% | 16% | 15% |
| realme | 16% | 16% | 14% | 8% | 9% | 12% |
| OPPO | 9% | 11% | 10% | 11% | 12% | 11% |
| Others | 17% | 19% | 22% | 25% | 26% | 27% |
India Smartphone Shipments Market Data (Q4 2021 – Q1 2023)
Market Highlights
• Q1 2023 (January-March) was the third consecutive quarter to see a decline in India’s smartphone shipments.
• 5G smartphones’ contribution to total smartphone shipments reached a record of 43%.
• With a 20% share, Samsung led the Indian smartphone market for the second consecutive quarter. It was also the top 5G brand.
• vivo captured the second spot and became the leading brand in the affordable premium segment (INR 30,000-INR 45,000, ~$370-$550)
• Apple continued to lead the premium and ultra-premium segments, with strong growth in offline channels.
• OnePlus was the fastest growing brand, followed by Apple. 5G smartphones in India captured a 32% share in 2022. Samsung became the top-selling 5G brand in 2022 with a 21% share.
Click here to read about India smartphone market in Q1 2023.
India Smartphone Shipments Market Share (%)
| Brands | Q4 2021 | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | Q1 2023 |
|---|---|---|---|---|---|---|
| Samsung | 16% | 20% | 18% | 19% | 20% | 20% |
| vivo | 13% | 15% | 17% | 14% | 18% | 17% |
| Xiaomi | 21% | 23% | 19% | 21% | 18% | 16% |
| OPPO | 9% | 9% | 11% | 10% | 11% | 12% |
| realme | 17% | 16% | 16% | 14% | 8% | 9% |
| Others | 24% | 17% | 19% | 22% | 25% | 26% |
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